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CASH DEPOSIT – PERFORMANCE ASSURANCE Page 1 of 2 Development Engineering Division Receipt Project City File Building Permit CITY OF REDMOND RECEIPT FOR CASH DEPOSIT – PERFORMANCE ASSURANCE For Improvements The City of Redmond, Washington, hereinafter “the City”, hereby acknowledges receipt from of the amount of which shall be held by the City for the purpose of guaranteeing that the improvements to be made in connection with construction of the project known as located at will be completed in accordance with approved plans and conditions, City File No. and applicable City standards no later than These improvements include, but are not limited to: If, in the sole determination of the Planning Director or a designee of same (hereafter “the Director”), the above-referenced improvements required by the approved plans, conditions and applicable City standards are not completed and accepted within the aforementioned time period, and all rights to reimbursement of this cash deposit shall be forfeited, and all said cash shall remain the sole property of the City. Otherwise, said cash shall be returned to the entity or individual posting said cash without interest following satisfactory completion and acceptance of the project, as determined by the Director, and posting of an assurance warrantying all improvements from any defect or defects in any of the material or workmanship entering into any part of the improvements, which shall develop or be discovered for a period of at least one year ---PAGE BREAK--- CASH DEPOSIT – PERFORMANCE ASSURANCE Page 2 of 2 from acceptance, has been submitted to the City in an amount of not less than $10,000 or ten (10) percent of the cost of the improvements and in a form suitable to the City. Forfeiture of the cash deposit as herein provided shall be in addition to all other rights and remedies granted by law, equity or contract to the City to seek reimbursement of damages incurred or to enforce the provision of any such contract or condition as referenced herein. Dated this of Signature of Depositor Accepted by: CITY OF REDMOND Name: Date: Persons to contact regarding release: Contact Name: Mailing Address: E-mail Address: Phone No.: ATTACH COPY OF RECEIPT ATTACH COPY OF CHECK